UPDATE 3-Toronto stock index falls on resources, BCE climbs

Fri Jul 4, 2008 5:08pm EDT
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*TSX falls as resource shares drop with commodities

*BCE soars after it finalizes funding at C$42.75 a share

*With U.S. markets closed, thin volumes lead to volatility

By Cameron French

TORONTO, July 4 (Reuters) - The Toronto Stock Exchange's main index retreated on Friday as softer commodity prices pulled down energy and materials issues, while telecoms giant BCE (BCE.TO: Quote) provided an upward push.

With U.S. markets closed, many Toronto traders started their weekend early, leading to thin volumes that accentuated the market's volatility, analysts said.

"America is closed. Whenever that happens, nothing much is going to happen in Canada," said Douglas Davis, president at Davis-Rea in Toronto.

The S&P/TSX composite index .GSPTSE fell 133.18 points, or 0.94 percent, to close at 14,010.39.   Continued...